DeFi Daily News，August 31st, 2020
1. According to the ChainNews, the trading volume of the decentralized exchange Uniswap hit a record high, with a 24-hour trading volume exceeding 441 million US dollars. In contrast, the daily trading volume of Coinbase Pro was 373 million US dollars, which means that the decentralized exchange 24 For the first time, the hourly trading volume exceeded that of a centralized exchange. YFI founder Andre Cronje believes that the soaring DeFi transaction volume is caused by a large number of people buying and selling governance tokens, which is not sustainable.
2.Bitcoin bounced back from Thursday’s drop at a time when more of the cryptocurrency is locked in DeFi than ever before. Bitcoin (BTC) trading around $11,511 as of 20:00 UTC (4 p.m. ET). Gaining 2.2% over the previous 24 hours, which trading range was between $11,231 and $11,552.
3. After Aave went public and hinted that it might establish a partnership with FTX, the decentralized financial giant Yearn.finance’s native token YFI once again hit a record high. In the past 12 hours, it has soared from $14,017 to $18,169, an increase of more than 30%. Now enter “ Price discovery” stage. The Yearn.finance ecosystem itself has strong product and technical strength. Its official website introduces the core products in the ecosystem, including:
yearn.finance — — The lender who performs profit conversion to optimize the loan yield (online);
ytrade.finance — — Using stable currency trading (current testnet stage);
yliquidate.finance — — Aave’s 0 capital automatic liquidation (currently in the test network stage);
yswap.exchange-unilateral automated market maker (already online);
iborrow.finance — — Credit entrust library from smart contract to smart contract lending (current testnet stage)
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